GoDaddy Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : <_ALACRA_META_ABSTRACT>But I guess to start, just high level, just kind of walk us through the pillars. You guys have a lot of announcements, frankly, along with AI, but you've got the product family within Airo, you've got Airo.ai. I want to talk about ANS a little bit. Just -- but on that three pillars of AI, kind of walk us through the high-level strategy, and then we'll kind of get into it from there.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. And so yes, let's start with the consumer side of it, obviously. Airo has been out for a couple of years now, right? And it's obviously morphed into the agentic landscape and all. But to date, what are you -- I guess, with your SMB customers and especially you're obviously always testing with everybody, where are you seeing kind of like the most value add and addressing something that was most underserved with those customers?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah. Yeah, absolutely. Maybe help us distinguish between that and Airo, right? Because I mean, Airo was a big leap forward, right, just in terms of automation and reducing some of that friction. This sounds like yet again, but where does Airo -- kind of as we think about what Airo was maybe a year ago or 18 months ago, where does that sit in the road map relative to this co-founder product? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. NOVEMBER 18, 2025 / 6:20PM, GDDY.N - GoDaddy Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah. And what -- when you think about the customer acquisition of these products, how do you think about this relative to the main channel? Like what will the kind of usage characteristics look like, I think, customer LTV? Talk through that.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : What does that mean?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. Okay. So I mean, I guess then the question becomes how -- I mean, market size, right? We know how many SMBs are in the world. We know how many domains you have, quarter of the world. What do we think about the size of this opportunity if it's such a distinct customer?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah, yeah. And I guess just where are we in this rollout? I get it, it's very new, and I'm asking you all sorts of leading questions.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah. But talk us through what you can in terms of the road map. I don't want to steal any thunder from the dinner in two weeks.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : And how -- I mean, you said it's an incremental customer, kind of a distinct customer. You're not putting any marketing force behind it. Where are these folks coming from?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. And funnel-wise, obviously, you always -- you have a structural advantage just objectively because of owning one fourth of the world's domains. I mean, is that where you go after first? Or do you go broader than this? And we haven't -- no one's actually said the word vibe coding in the room quite yet. I think that's -- we're not sure if a good word or a bad word still or whatever. But yeah, how do you think about that as you kind of bring it to market?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Talk about just the ability to customize the LLM because obviously, I think that's like a really important point here. You've spun this up fairly quickly, right? We were only talking about -- I mean, I remember talking to Aman just probably two years ago about initial usage of ChatGPT expanding to other models when Sam got fired and -- for the weekend and things like that. So two years, we're here and you already have like the custom ready to go. How hard was that, right? What's the barrier there for others doing it?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah. No, it's amazing. What -- maybe give an example or two of your existing customer base. Like is it completely greenfield to sort of implement agents with these -- with existing customers, so the existing small and kind of micro businesses that you guys serve so well? And maybe just give an example or two of how you could go in and enhance somebody's business that is functioning fine today, but they don't realize the efficiency that you get out of it, just so we can sort of centralize. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. NOVEMBER 18, 2025 / 6:20PM, GDDY.N - GoDaddy Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : So just kind of a market question. There's obviously a ton of vibe coding applications out there and one new one comes to market almost every day. I feel like, clearly, I think from the data we've seen in some of those early players, they've done really well. But I think the common shortcoming has been is they can ideate really well, right, throw an idea up on a whiteboard, digitally bring it to life, so to speak. But to sustainably run it, right, you need some of those back-end tools, you need marketing, you need payments, inventory or half a dozen other sort of plug-ins and so forth. The software investor view is that eventually, they will get there because it's AI and it's easy to build and all that stuff. You're a product guy, you do this for a living. Why is -- maybe that not the right way to think about it? Or is it?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yeah. And then the idea of custom agents. I mean you guys are building, what was it, 22 at this point, more to come in a couple of weeks, it sounds like. But the idea of custom agents within this ANS framework is super interesting. What could that even turn into?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Interesting.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Totally. So let's talk pricing and bundling, your favorite topic. How -- put this into context for us. What -- we know what pricing and bundling looks like today in the traditional product set. We're talking about a lot of new things. How does that change?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : And I think 2024 was kind of the first real big year for pricing and bundling. '25 kind of a, we'll call it, a tougher comp a little bit. But we know you're -- particularly Q2, we know. But as you look towards '26, right, you always talk about this, you're always testing and iterating, right, and seeing what works, what people like, what people will attach. How central was all of this to some of that commentary -- because you've been giving that commentary for a while, right? Like that's not a new comment out of you. How central is all of this in the context of that prior sort of pricing and bundling commentary as we think about next year and lapping '25?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Yes. We love that. And then just on that point on playing to the customer, you guys have talked about each of your customers uses the products in such different ways, right, that there is going to be a -- I don't want to say a bespoke pricing, but there is going to be sort of custom buckets of pricing. But I don't think you're very far along in that or maybe I'm wrong about that. Where are we in the journey of sort of like optimizing price for what value your customers are really getting out of the products? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. NOVEMBER 18, 2025 / 6:20PM, GDDY.N - GoDaddy Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. Okay. So a long way to go, noted. And then just as we think about your favorite topic, customer count and everything, let's go there in a second. Small business formation, right? It's kind of been stagnant the last few years. It exploded during COVID. There were probably a little bit more of sort of, we'll call it, defensive or reactive businesses formed, so you've had to sort of churn that out of the system. But here we are 2025 headed into '26, does this -- this technology seems like it has the potential to sort of like almost change new business formation structurally. Is -- are you guys seeing any indications of that? Have you -- do you have any thoughts on that? Just curious.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. And then one last one. We can't have a 30-minute discussion without talking customer count. Can you update us just on how you -- and we've talked a lot about -- clearly, there's a lot of potential with these new products. But just setting that aside, customer count, you've had some things where you've done to the business, hosting migrations, tech migrations, little divestitures that affected that metric. Investors obviously are kind of waiting for that to stabilize, if not turn positive. How should we think about that?

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Got it. Understood. That's great. I think we're out of time. But Gourav, Mark, thanks for being here. And anybody who's in the Phoenix area December 2, come out to the Investor dinner.

Question: Brad Erickson - RBC Capital Markets Inc - Analyst : Sounds good. Thank you guys. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. NOVEMBER 18, 2025 / 6:20PM, GDDY.N - GoDaddy Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference